Is the LIBOR illegal?

Could you please clarify whether the LIBOR, or London Interbank Offered Rate, is considered illegal in any way? There have been allegations in the past regarding manipulation of the rate, but does this automatically Render it unlawful? Additionally, have there been any legal proceedings or regulatory actions taken against those involved in such manipulations, and if so, what were the outcomes? Furthermore, are there any ongoing investigations or reforms being implemented to ensure the integrity and transparency of the LIBOR and similar benchmarks?